B. Riley Issues Pessimistic Forecast for GNK Earnings

Genco Shipping & Trading Limited (NYSE:GNK) – B. Riley lowered their Q1 2025 EPS estimates for Genco Shipping & Trading in a report issued on Tuesday, April 29th. B. Riley analyst L. Burke now expects that the shipping company will post earnings per share of ($0.32) for the quarter, down from their prior estimate of ($0.23). The consensus estimate for Genco Shipping & Trading’s current full-year earnings is $0.48 per share. B. Riley also issued estimates for Genco Shipping & Trading’s FY2025 earnings at ($0.29) EPS.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.27). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The company had revenue of $67.95 million during the quarter, compared to the consensus estimate of $67.36 million.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group reduced their price objective on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Dnb Nor Markets raised shares of Genco Shipping & Trading to a “strong-buy” rating in a report on Thursday. Finally, Pareto Securities raised shares of Genco Shipping & Trading to a “strong-buy” rating in a research note on Monday, March 31st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $23.00.

Genco Shipping & Trading Stock Performance

NYSE:GNK opened at $13.62 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. Genco Shipping & Trading has a fifty-two week low of $11.20 and a fifty-two week high of $23.43. The company has a market cap of $584.89 million, a price-to-earnings ratio of 7.78, a PEG ratio of 5.64 and a beta of 1.17. The stock has a fifty day moving average price of $13.22 and a 200-day moving average price of $14.51.

Hedge Funds Weigh In On Genco Shipping & Trading

Several institutional investors and hedge funds have recently added to or reduced their stakes in GNK. Raymond James Financial Inc. bought a new stake in shares of Genco Shipping & Trading in the fourth quarter worth $332,000. JPMorgan Chase & Co. grew its position in shares of Genco Shipping & Trading by 155.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 285,091 shares of the shipping company’s stock valued at $5,559,000 after buying an additional 173,270 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Genco Shipping & Trading by 51.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,355 shares of the shipping company’s stock valued at $911,000 after buying an additional 22,316 shares during the period. Barclays PLC raised its position in shares of Genco Shipping & Trading by 499.7% during the third quarter. Barclays PLC now owns 103,387 shares of the shipping company’s stock worth $2,016,000 after acquiring an additional 86,147 shares during the last quarter. Finally, Townsend & Associates Inc lifted its stake in shares of Genco Shipping & Trading by 2.2% in the fourth quarter. Townsend & Associates Inc now owns 1,071,959 shares of the shipping company’s stock worth $15,318,000 after acquiring an additional 23,101 shares during the period. 58.62% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jesper Christensen sold 13,602 shares of Genco Shipping & Trading stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $189,883.92. Following the sale, the insider now directly owns 57,322 shares of the company’s stock, valued at approximately $800,215.12. This trade represents a 19.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Peter George Allen sold 8,984 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $125,416.64. Following the completion of the transaction, the chief financial officer now directly owns 45,251 shares of the company’s stock, valued at $631,703.96. This represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,812 shares of company stock valued at $402,216. 2.50% of the stock is currently owned by insiders.

Genco Shipping & Trading Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were given a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 8.81%. Genco Shipping & Trading’s dividend payout ratio is currently 68.57%.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.